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Automotive exports reach $2.6 billion in April

06-May-2019
Automotive exports reach $2.6 billion in April

The Uludag Automotive Industry Exporters' Association (OIB) announced yesterday that the Turkish automotive industry achieved the second highest April performance in its history.

According to an OIB written statement, Turkish automotive industry exports reached $2.6 billion with a 9.8 percent decline in April. Despite the fall, the industry achieved the second highest April performance in its history.

The automotive industry, which still ranks first in Turkey's exports with a 17 percent share, reached an average of $2.6 billion in exports in the first four months of the year. Industry exports were $10.3 billion, a 6.8 percent fall in the January-April period.

As far as product groups, the export of vehicles, with the exception of buses, minibuses and midi-buses, declined in April, while exports to EU countries, which have a 76 percent share of Turkish automotive exports, dropped 13 percent.

Considering the April performance in terms of product groups, export of private cars, which have a 37 percent share, plummeted by 23 percent to $961 million.

Meanwhile, supply industry exports decreased by 3 percent to $926 million, the second-largest share of automotive exports.

Exports of motor vehicles for transportation of goods decreased 1 percent to $469 million, while exports of buses, minibuses and midi-buses increased 14 percent to $170 million.

Exports to France, the largest market in passenger cars, dropped 36 percent, followed by Italy at 41 percent, Spain at 34 percent, Germany at 33 percent, the U.K. at 17 percent, Belgium at 36 percent and Sweden by 22 percent. On the other hand, exports to Israel rose 15 percent and to Slovenia and Hungary by 19 percent each. Exports of passenger cars, to the U.S. soared by 43.9 percent.

Meanwhile, exports to Germany, the largest market for the automotive supply industry, shrank by 11 percent and to France, the second-largest market, by 1 percent and to Romania, plunging by 23 percent.

Moreover, exports to the U.K., the U.S. and Algeria skyrocketed by 17 percent, 24 percent and 58 percent, respectively. Export of motor vehicles for transportation of goods to the U.K., Slovenia, and Spain went up by 32 percent, 72 percent and 30 percent, respectively, while exports to Italy fell by 41 percent, Belgium by 13 percent, the Netherlands by 18 percent, Germany by 26 percent and Sweden by 59 percent. In April, exports to Germany, the largest market for the Turkish automotive industry, stood at $368 million, an 18 percent decline, and to France at $268 million, a 23 percent fall. Exports to Italy totalled $237 million with a 28 percent fall.While exports to Spain and the Netherlands, two important markets, declined by 24 percent each and to the Netherlands by 22 percent, exports to the U.K., Slovenia and the U.S. were up by 14 percent, 39 percent and 57 percent, respectively.

The reason for the fall in the German market was the 33 percent fall in automobile exports and 11 percent fall in supply industry exports. Also, the reason for the shrinkage in exports to France and Italy was the 36 percent and 41 percent fall, respectively, in passenger car exports.

Exports to EU countries, which are the largest market as far as country groups, dropped 13 percent to nearly $2 billion. Automotive exports to African countries surged by 30 percent and North American free trade zone countries by 14 percent.

Exports to the EU countries stood at $8 billion in the January-April period, while exports to North American free trade zone and Middle Eastern countries shrank by 19 percent and 4 percent, respectively.

Automotive exports to African countries increased by 10 percent and Far Eastern countries by 12 percent.



Source :- Dailysabah.com

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